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THE COMPONENTS OF THE INTERNATIONAL PROPERTY RIGHTS INDEX THAT MATTER FOR ECONOMIC GROWTH

Abstract This paper examines the components of the International Property Rights Index (IPRI) and their impact on economic growth. The IPRI provides a framework to evaluate the strength and protection of property rights worldwide, encompassing legal and political environment (LP), physical property rights (PPR), and intellectual property rights (IPR). By analyzing each component, this study outlines how robust property rights support a stable investment climate, promote innovation, and contribute to sustainable economic development. Our discussion integrates empirical findings, theoretical insights, and policy implications, accompanied by graphical representations to elucidate complex relationships. Introduction Property rights form the foundation of a market-based economic system. Investors, entrepreneurs, and citizens must trust that their assets—both tangible and intangible—are safeguarded under a predictable legal regime. The International Property Rights Index (IPRI) is an in...